Zerodha’s Nithin Kamath drops a bombshell on Ozempic and Mounjaro: ‘Beware, these drugs can change everything’

India has long held the unfortunate title of the diabetes capital of the world. Now, with a growing obesity crisis, the arrival of Eli Lilly’s Mounjaro (Tirzepatide) marks a pivotal moment in Indian healthcare. Zerodha co-founder and CEO Nithin Kamath, in a recent tweet and blog post, has sparked a conversation on the wide-ranging implications of these weight-loss drugs, which are being hailed as a potential game-changer.

A ‘Miracle Drug’ for Weight Loss and More?

Mounjaro, along with Novo Nordisk’s Ozempic (Semaglutide), belongs to the class of GLP-1 receptor agonists, originally developed for diabetes management. However, their impact on weight loss has been staggering, with many patients reporting reductions of 15-20% in body weight.

GLP-1 (glucagon-like peptide-1) receptor are a class of drugs originally developed for diabetes management but are now widely used for weight loss. Medications like Ozempic and Mounjaro mimic GLP-1, regulating blood sugar, reducing appetite, and curbing cravings.

Taking to X, Kamath noted that apart from the effect of these drugs on reducing obesity, there is substantial research which suggests that it can also curb addictive tendencies.

“But I've also read that the drug can potentially reduce addictive tendencies and compulsive behaviours like alcoholism, smoking, gambling, and so on. There's some evidence to show that these drugs can reduce the risk of cardiovascular diseases, dementia, and Alzheimer's; improve mental health; and so on. I don't know if all of these things are true, and it's early days. But even if half of what's being reported is true, then this will be the closest thing we've seen to a miracle drug,” Kamath said.

Although, Kamath maintained a cautious ‘let us wait and watch’ approach to these ‘miracle drugs,’ he does note that, given the spectacularly claimed benefits, yet the intake of these drugs is still curiously low. “So far, not many people are taking them; even in the US, only about 6% of the people are taking these drugs,” he noted.

However, if this number were to grow, this can have a singular effect on every single industry, Kamath pointed out.

The Cost Barrier and a Looming Patent Expiry

At present, the prohibitive cost of Mounjaro—ranging from ₹2 lakh annually for a moderate dose—means that its adoption in India will likely be limited to affluent individuals. However, the landscape is expected to shift in 2026 when patents on the active ingredients expire, paving the way for cheaper generics. This could democratise access and drive widespread adoption.

A Disruptor to Multiple Industries

Kamath also speculates on the profound ripple effects these drugs could have across industries. If GLP-1 medications gain traction, consumer behaviour could witness an unprecedented shift:

• Food Industry: With reduced appetite and lower cravings for junk food, FMCG giants may have to rethink their product strategies. Early data from the US suggests a decline in food purchases among users of these drugs.

• Healthcare: Increased screening for these medications could lead to earlier detection of related conditions like sleep apnea and heart disease, altering the approach to preventive healthcare.

• Insurance and Pensions: With potential increases in life expectancy and lower obesity-related claims, insurers may need to revise premium structures and pension calculations.

• Financial Markets: Kamath’s tongue-in-cheek remark about whether traders would “trade less” hints at the possibility of fundamental changes in behavioural economics. Could reduced impulsivity translate to more rational decision-making in markets?

Is India Ready?

While the US has already seen widespread use of GLP-1 drugs—with one in eight Americans reportedly trying them—India is only at the beginning of this trend. Given the high prevalence of diabetes and obesity, demand is expected to grow. However, concerns around affordability, accessibility, and long-term effects remain crucial.

As Kamath puts it, “What we don’t know is more than what we know about these drugs at this point.” But if even half of the reported benefits hold true, India could be on the cusp of a healthcare revolution—one that extends far beyond weight loss and into the very fabric of consumer behaviour and economic planning.